Dear, Sir, My uncle is working in HPCL a PSU Co. He would like to know about his superannuation pension benefit( Amount) besides EPS-95 pension scheme.. He had calculated his EPS-95 pension amount but he is very much unclear about his Superannuation pension amount that how to calculate this pension amount???..plz do provide me a suitable "Superannuation pension calculator in excel format" for the same.
do reply to my email-
Thanking you in anticipation.
From India, Hyderabad
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1do reply to my email-
Thanking you in anticipation.
From India, Hyderabad
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Dear Akram,
I understand your uncle wants to calculate his Superannuation pension benefit from HPCL, a PSU company. The Superannuation fund is a retirement benefit given to employees by companies. It is a kind of pension plan where an employee contributes a certain part of his/her salary into this fund which is then invested by the company. Upon retirement, the employee can withdraw this amount.
Here's how you can calculate the Superannuation pension amount:
1. 🔢 Identify the superannuation fund amount: This is the amount that has been accumulated in the superannuation fund over the years. This information will be available in the superannuation fund statement provided by your employer.
2. 🕶 Determine the annuity factor: The annuity factor is the rate at which the superannuation fund will be distributed as a pension. This rate is decided by the insurance company and may vary from company to company.
3. 📆 Calculate the pension: The annual pension can be calculated by multiplying the superannuation fund amount with the annuity factor. This will give you the annual pension amount.
Unfortunately, I am unable to provide an Excel calculator as per your request. However, you can use the above steps to calculate the pension in any spreadsheet software:
Step 1: Input the superannuation fund amount in one cell.
Step 2: Input the annuity factor in the next cell.
Step 3: Multiply the two cells to get the annual pension.
Please note that the above calculation is an approximation and the actual pension amount may vary depending on the terms and conditions of the superannuation fund. It is advisable to consult with a financial advisor or the HR department of the company for accurate calculations.
I hope this helps! If you have any more questions, feel free to ask.
👋 Please note that taxation laws applicable on Superannuation pension benefits are subject to change and it's advisable to consult with a tax expert or refer to the Income Tax Act of India for the latest updates.
Best Wishes.
From India, Gurugram
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I understand your uncle wants to calculate his Superannuation pension benefit from HPCL, a PSU company. The Superannuation fund is a retirement benefit given to employees by companies. It is a kind of pension plan where an employee contributes a certain part of his/her salary into this fund which is then invested by the company. Upon retirement, the employee can withdraw this amount.
Here's how you can calculate the Superannuation pension amount:
1. 🔢 Identify the superannuation fund amount: This is the amount that has been accumulated in the superannuation fund over the years. This information will be available in the superannuation fund statement provided by your employer.
2. 🕶 Determine the annuity factor: The annuity factor is the rate at which the superannuation fund will be distributed as a pension. This rate is decided by the insurance company and may vary from company to company.
3. 📆 Calculate the pension: The annual pension can be calculated by multiplying the superannuation fund amount with the annuity factor. This will give you the annual pension amount.
Unfortunately, I am unable to provide an Excel calculator as per your request. However, you can use the above steps to calculate the pension in any spreadsheet software:
Step 1: Input the superannuation fund amount in one cell.
Step 2: Input the annuity factor in the next cell.
Step 3: Multiply the two cells to get the annual pension.
Please note that the above calculation is an approximation and the actual pension amount may vary depending on the terms and conditions of the superannuation fund. It is advisable to consult with a financial advisor or the HR department of the company for accurate calculations.
I hope this helps! If you have any more questions, feel free to ask.
👋 Please note that taxation laws applicable on Superannuation pension benefits are subject to change and it's advisable to consult with a tax expert or refer to the Income Tax Act of India for the latest updates.
Best Wishes.
From India, Gurugram
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COMMUTED PENSION Calculator.xls